Startup cost: $500 - $5k

Setup costs range from $500 to $5,000 depending on the level of investment. At a minimum, one would need a computer with solid processing power and memory to run algorithmic trading software efficiently. Additional costs may include subscription fees for access to quality data feeds and trading platforms. For those wanting to do it right, higher-end estimates could cover advanced software licenses, educational courses on algorithmic trading strategies, and possibly hiring a developer to customize algorithms. It's essential to have a reliable internet connection and potentially invest in a virtual private server (VPS) for uninterrupted trading. While some tools and resources are optional at launch, investing in quality data and software can lead to better trading outcomes in the long run. Hidden costs may arise from continuous software updates, data subscriptions, and potential losses in the early stages of trading. Overall, to take this seriously, a friend should budget between $500 and $5,000 to cover all necessary tools, services, and setup for AI algorithmic trading development.